LLP Registration

₹ 8999/-

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LLP Registration

Limited Liability Partnership (LLP) was launched in India by way of the Limited Liability Partnership Act, 2008. The main edge of a LLP is one partner is not liable for another partner’s misconduct or negligence. LLP is favored by Professionals, Micro and Small businesses that are family-owned or closely-held

It offers the benefit of limited liability to its owners and at the same time needs minimal maintenance. An LLP gives limited liability protection for the owners from the debts of the LLP. Accordingly, all partners in an LLP enjoy a kind of limited liability protection for every individual’s protection within the partnership, related to that of the shareholders of a private limited company.

Advantages of LLP Registration

  • Minimum Statutory Compliances
  • Easy to Setup business & Corporate Ownership
  • No Audit Requirement up to certain Limit
  • Relatively Inexpensive to start
  • No fixed minimum Capital requirement

Disadvantages of LLP Registration

  • Public Disclosure
  • Dissolution in case remaining partner is one
  • No Income Tax Slab available
  • Sharing of profits with any other person

Documents Required

  • Voter Id/ DL/ Bank Statement of Partner
  • Aadhaar/ PAN/ Contact Details of Partner
  • Address Proof for Registered Office of LLP
  • Proposed Name of LLP
  • Objects of LLP

What You Will Get

  • Incorporation Certificate
  • DSC and DPIN of 2 partners
  • LLP Agreement
  • PAN and TAN of LLP
  • Guidance regarding statutory compliances for one month

Process of LLP Registration

  • Digital Signature Certificate: The first step registering LLP is to acquire the (DSC) Digital Signature Certificate of all the Designated Partners of LLP. A DSC is required since the LLP’s Document are field online.
  • RUN – LLP (Reserve Unique Name): The next step is to apply for name reservation of the LLP by filing Form LLP-RUN with the MCA. You will have to provide up to three name choices in order of preference along with the reasons for selecting the names. Before citing or quoting the name, it is always advisable to check from the Ministry of Corporate Affairs (MCA) portal for a free name. They will provide a list of companies with the similar or existing LLP. Once the name has been chosen, submitted along with a fee that will then proceed for the approval of the registrar.
  • Obtain Designated Partners Identification Number (DPIN):- Designated Partners Identification Number is a unique Identification number. All designated partners of the LLP are required to obtain a DIN from the Ministry of Corporate Affairs (MCA) by filing Form DIR-3.
  • Incorporation of LLP: - (FiLLiP) Form for incorporation of Limited Liability Partnership is required to be filled. Once the name is approved, you can file Form (FiLLiP) within the 20 days of name approval. The submission of relevant documents (registered office address, capital contribution, and other relevant information) by the client as well as the Approvals from the Government authorities.
  • Filing of LLP Agreement:- This agreement governs the mutual rights and duties amongst the partners. Within 30 days of incorporation Filed Form 3, an LLP agreement must be executed by all partners of the LLP and filed with the MCA in Form 3.
  • Obtain Permanent Account Number (PAN):- After incorporation, you will need to apply for a PAN.
  • Tax Deduction and Collection Account Number (TAN). After incorporation, you will need to apply for a TAN

Key points to be considered while incorporating LLP: -

  • Every LLP shall have at least 2 partners as designated partners
  • Every LLP has to inform about their compliances to the Registrar of Companies.
  • If the number of partners falls below two, a new partner must be appointed within 30 days from shortfall. 
  • LLP can be converted into a private or public limited company subject to some conditions.
  • In an LLP, partners do not hold shares like in a company. Instead, they hold a percentage of ownership in the LLP, which is called a "contribution".

Frequently Asked Question

Yes, you can register your firm at your home address. You just need to have electricity bill and a legal rent agreeement with the owner of the property. It is perfectly legal to register your firm on your Home Address.

At least 2 partners are required for incorporating Limited Liability Partnership. Maximum No of partners can be 200. If you are a single person then you can register One Person Company.

Yes, You can convert your LLP in to Company as prescribed by Companies Act or LLP Act. You will have to follow the process for converting your business in to Company through Registrar of Companies.

Yes, Audit is compulsory for LLP after the prescribed limit mentioned in LLP Act.

Yes, You will get the Incorporation Certificate of your registered Limited Liability Partnership.

There are 2 forms which needs to be filed by a LLP annually i.e, Form 11 and Form 8 in May and Oct every year respectively. Other than this, Income Tax return needs to be filed by a LLP annually.

Yes, PAN Card will be generated after incorporating your LLP.

AMPUESTO will help you in registering your LLP with the best possible registration which suits your business after discussion with you. You just need to simply complete the small form and our team will call you and help you in registering your LLP in a very cost effective way.

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